Bay Colony Advisory Group Inc d b a Bay Colony Advisors Buys 1,121 Shares of Abbott Laboratories (NYSE:ABT)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its stake in shares of Abbott Laboratories (NYSE:ABT) by 6.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,345 shares of the healthcare product maker’s stock after acquiring an additional 1,121 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in Abbott Laboratories were worth $2,091,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BDF Gestion bought a new position in shares of Abbott Laboratories in the 2nd quarter valued at $7,651,000. Dundas Partners LLP increased its stake in shares of Abbott Laboratories by 2.1% in the 2nd quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker’s stock valued at $34,313,000 after purchasing an additional 6,897 shares during the last quarter. Duality Advisers LP acquired a new stake in shares of Abbott Laboratories during the 1st quarter valued at $5,634,000. Oak Harvest Investment Services boosted its holdings in shares of Abbott Laboratories by 32.7% during the 1st quarter. Oak Harvest Investment Services now owns 73,651 shares of the healthcare product maker’s stock valued at $8,371,000 after acquiring an additional 18,131 shares in the last quarter. Finally, Empowered Funds LLC boosted its holdings in shares of Abbott Laboratories by 40.3% during the 1st quarter. Empowered Funds LLC now owns 49,483 shares of the healthcare product maker’s stock valued at $5,624,000 after acquiring an additional 14,215 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

ABT has been the topic of several recent research reports. Barclays raised their price objective on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Sanford C. Bernstein lifted their target price on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Royal Bank of Canada lifted their target price on Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Piper Sandler lifted their price objective on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Finally, Morgan Stanley lifted their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus target price of $129.67.

Insiders Place Their Bets

In related news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the completion of the sale, the chief executive officer now owns 220,059 shares of the company’s stock, valued at $25,617,068.19. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by company insiders.

Abbott Laboratories Trading Down 0.4 %

Shares of Abbott Laboratories stock traded down $0.49 during trading on Monday, reaching $113.73. 235,351 shares of the stock were exchanged, compared to its average volume of 5,698,048. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. The stock’s fifty day moving average is $114.63 and its 200 day moving average is $108.66. The firm has a market cap of $197.85 billion, a price-to-earnings ratio of 35.58, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a 1 year low of $91.64 and a 1 year high of $121.64.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The company had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. Abbott Laboratories’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.14 earnings per share. As a group, equities research analysts expect that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a $0.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 annualized dividend and a yield of 1.93%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Abbott Laboratories Profile

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.